PYMNTS
AUGUST 22, 2019
Justice Department has announced charges against 80 people, most of them Nigerians, in a wide-ranging fraud and money laundering operation that netted millions of dollars from victims of internet con jobs, as reported on Thursday (Aug. Most arrests were in the Los Angeles area.
PYMNTS
AUGUST 26, 2019
The Hill reported that the 252-count indictment was unsealed after authorities arrested 14 of the defendants in the United States; 11 of them had been based in Los Angeles; the remainder are outside the United States. The individuals are charged with using business e-mail compromise (BEC) scams to dupe victims.
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PYMNTS
SEPTEMBER 8, 2020
949 gigabytes of confidential data have been accessed by ransomware attackers targeting IT distributor Ma Labs , reports in CRN said, an attack that has stalled the company's operations and left its customers in limbo. 1 million was stolen from the City of Industry via invoice fraud, claims officials in the California city.
PYMNTS
MAY 21, 2019
The FTC said the defendants, in collaboration with Allied Wallet sales agent Thomas Wells, intentionally hid fraud from banks and credit card networks. Khawaja must turn over a residence in Los Angeles, and the rest of the judgement will be suspended due to inability to pay. Rountree’s $320,429.82
Abrigo
OCTOBER 15, 2020
Key Takeaways Economic relief payments are often subject to fraud – PPP is no exception. BSA Officers should be aware of PPP red flags to identify potential fraud. Economic relief payments are often subject to fraud, and the Paycheck Protection Program (PPP) is no exception. Other PPP Fraud Indicators. C&I Loans.
Abrigo
MAY 15, 2020
Key Takeaways Like other federal relief programs, the PPP has become subject to fraud. The first federal charges of PPP loan fraud have been made – and they're unlikely to be the last. From 9/11 to Hurricane Sandy, and now, during COVID-19, federal relief funds aimed to help people rebuild after a disaster becomes subject to fraud.
PYMNTS
FEBRUARY 22, 2019
The OCC identified the deficiencies in the bank’s branches in New York, Los Angeles and Chicago. It also oversees OFAC sanctions compliance and anti-corruption compliance across all of MUFG Bank’s worldwide operations. From a bank’s perspective, we need to process these papers manually, including checking for fraud, etc.”
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